MS HB1544

Authorizes the issuance of state general obligation bonds not exceeding $1,000,000 to assist the City of Baldwyn, Mississippi with improvements and upgrades to its natural gas system transmission line and related infrastructure.

Creates a special fund called the "2018 City of Baldwyn Natural Gas System Improvements Fund" within the State Treasury to receive bond proceeds and disburse funds for the authorized projects.

Bonds may be issued until July 1, 2022, with a maximum maturity of 25 years, and are backed by the full faith and credit of the State of Mississippi.

Bond proceeds and investment earnings on the special fund are used to pay project costs, and any remaining amounts after project completion are applied to debt service on the bonds.

Bonds are exempt from Mississippi taxation and constitute legal investments for fiduciaries, trustees, and financial institutions in the state.